MGM China Holdings has released unaudited financial data for the first quarter of 2025, showing strong growth across various segments.
Net revenue reached HK$8 billion (IS$998 million), a 1 percent increase from the previous quarter and 139 percent of the first quarter of 2019. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 11 percent quarter-to-quarter to HK$2.4 billion (US$299.6 million), representing 146 percent of the same period in 2019.
MGM China reported that property visitation was 177 percent of 2019 levels, and daily gross gaming revenue (GGR) was 128 percent of the first quarter of 2019. Mass GGR and VIP GGR were 183 percent and 43 percent, respectively, of pre-Covid levels.
The company’s overall GGR market share grew to 15.7 percent, up from 15.5 percent in the previous period.
[See more: MGM is opening its first Zhuhai hotel this May]
As of 31 March, MGM China had total liquidity of approximately HK$17.8 billion (US$2.22 billion). The average occupancy rate for the period was 93.3 percent.
The company also announced an update to its dividend policy, intending to make semi-annual distributions not exceeding 50 percent of anticipated annual profits, up from 35 percent previously.
The increase in MGM China’s visitor levels come against a backdrop of tourism recovery in Macao. The SAR’s average daily visitor arrivals rose 12 percent quarter-to-quarter to 109,585, recovering to 95 percent of that registered in the same period in 2019.
Daily GGR in Macao increased by 3 percent quarter-to-quarter to 641 million patacas per day, representing 76 percent of the same period in 2019. Mass GGR (including slots) was estimated to have recovered to approximately 110 percent of pre-Covid levels, while VIP GGR was estimated at 26 percent of the equivalent period.
This article was drafted by AI before being reviewed by an editor
